Deutsche Bank Upgrades Shanda Interactive (SNDA) to Hold; Valuation Call

Deutsche Bank upgraded Shanda Interactive (NASDAQ: SNDA) to Hold. PT $36.50.

Deutsche analyst says, "We upgrade Shanda to Hold following its stock price correction in the past month. We keep our forecasts unchanged and believe the stock is fairly valued. We remain cautious in our outlook on its non-gaming business due to 1) poor visibility into Ku6's revenue growth and profitability and 2) prevalence of free (often pirated) content alternatives."

For more ratings news on Shanda Interactive click here and for the rating history of Shanda Interactive click here.

Shares of Shanda Interactive closed at $38.59 yesterday.

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